Listing ID: 81559
Purchase Price REDUCED to $100,000
Plus Inventory currently valued at $85,000.
A must-see for an aspiring entrepreneur with a knack for business, interior design, and fashion willing to take on an Oswego, IL-based specialty retail tradition!
Velvet Grace features two independent shops with classic and on-trend home decor, women’s apparel, jewelry, and gifts. In addition, the boutique is a proud retailer of Annie Sloan Chalk Paint supplies, an essential for DIYer’s to achieve lasting decorative effects for furniture and other home ambiance.
This established and profitable niche retail store has much to offer, including impressive sales growth year after year! Superb customer service and expertise, along with the store’s charming overall appeal, keep customers coming back. As a result, the business has a high rate of returning customers.
The owners have built a solid retail business with a detailed customer database for advertising and marketing purposes. The company is well-established in the community and adds new customers through referrals.
There is an exceptional opportunity for a new owner(s) to expand this retail business by growing the new e-commerce site or offering in-home design services.
The retail business has established relationships with over 100 industry trade vendors to offer a plethora of quality products at competitive prices.
Velvet Grace, located in Oswego, a growing Western Suburb of Chicago, is a busy, vibrant area on a highly traveled road with easy access and plenty of parking.
The retail business includes all furniture, fixtures and equipment, supplies, client database, goodwill, transitional training to the new owner(s), access to industry trade advantages, and +/- $85,000 inventory, making total offering price of $185,000.
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- Asking Price: $100,000
- Cash Flow: $91,032
- Gross Revenue: $383,978
- EBITDA: N/A
- FF&E: $11,537
- Inventory: $85,000
- Inventory Included: N/A
- Established: 2014
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:1
- Lot Size:N/A
- Total Number of Employees:6
- Furniture, Fixtures and Equipment:N/A
The company was founded in 2014, making the business 8 years old.
The deal shall not include inventory valued at $85,000*, which ins't included in the listing price.
The business has 6 employees and is situated in a building with approx. square footage of 1 sq ft.
The property is leased by the business for $3,145 per Month
Why is the Current Owner Selling The Business?
There are all types of reasons why individuals choose to sell businesses. Nevertheless, the real reason vs the one they tell you may be 2 absolutely different things. For instance, they may say "I have a lot of various commitments" or "I am retiring". For many sellers, these reasons stand. But also, for some, these might simply be excuses to attempt to hide the reality of transforming demographics, increased competition, recent decrease in incomes, or an array of other reasons. This is why it is really important that you not rely absolutely on a vendor's word, but instead, make use of the vendor's response combined with your general due diligence. This will repaint a more practical picture of the business's present scenario.
Existing Debts and Future Obligations
If the current company is in debt, which numerous businesses are, then you will certainly have reason to consider this when valuating/preparing your offer. Many operating businesses finance loans with the purpose of covering points like inventory, payroll, accounts payable, so on and so forth. Bear in mind that in some cases this can indicate that revenue margins are too thin. Lots of organisations fall under a revolving door of taking loans as a way to pay back various other loans. In addition to debts, there may additionally be future obligations to think about. There may be an outstanding lease on equipment or the structure where the business resides. The business may have existing agreements with vendors that need to be satisfied or may lead to fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
How do operating businesses in the location attract new clients? Most times, operating businesses have repeat customers, which form the core of their everyday revenues. Certain elements such as brand-new competition sprouting up around the area, roadway construction, and also personnel turnover can affect repeat clients and adversely impact future incomes. One important point to think about is the location of the business. Is it in a highly trafficked shopping mall, or is it hidden from the highway? Clearly, the more individuals that see the business often, the higher the opportunity to develop a returning client base. A final idea is the basic location demographics. Is the business placed in a largely inhabited city, or is it situated on the outskirts of town? Exactly how might the regional typical family earnings impact future revenue potential?